Mortgage application and tax returns

[boston2012 0]

Hi everyone,

I'm a US citizen and my husband is here on a green card. We moved to the US from Canada this summer. We are in the process of buying a house and have been told that no underwriter will approve our mortgage because my husband can't show 2 years of IRS transcripts. We are using his income only to qualify as I'm not working presently. He has been employed continuously by the same employer for nearly 10 years, and received a transfer from his Canadian company to their US subsidiary when we moved.

We provided the lender with 4 months of US pay stubs, three years of Canadian tax returns, and bank statements for both Cdn and US banks. We have a 20% down payment, and we both have excellent US credit scores. We had not expected this problem, especially since we had warned our lender we just moved from Canada and were assured it would be no problem.

I'm sure we can't be the first people to apply for a mortgage before having two years of US tax returns - does anyone have any advice or a referral for a lender they've successfully worked with?

I know there are mortgage programs for foreign nationals that require a higher down payment and have higher interest rates; we're hoping to get just a regular mortgage.

Thanks in advance for any help you can provide.

[ca_babe 129]

Try quickenloans.com. You'll find out very quickly whether you're approved or not.

[Married2009 32]

He should have filed, even if he was exempt from paying any taxes on the foreign income. He can still file, get with an accountant to figure out what you need, or contact the IRS.

[The Mean Lady 604]

He should have filed, even if he was exempt from paying any taxes on the foreign income. He can still file, get with an accountant to figure out what you need, or contact the IRS.

Why would he have filed US taxes while living in Canada?

[VanessaTony 3,567]

He should have filed, even if he was exempt from paying any taxes on the foreign income. He can still file, get with an accountant to figure out what you need, or contact the IRS.

Her husband is the Canadian. He would not file US taxes until he became an LPR.

Why would he have filed US taxes while living in Canada?

If he was a US LPR at the time he would have to, but I think the poster thought the husband was the USC, when he's the Canadian.

I'm sure we can't be the first people to apply for a mortgage before having two years of US tax returns - does anyone have any advice or a referral for a lender they've successfully worked with?

I think you're going to have to either try the process (you said you were TOLD the underwriter wouldn't, but have you tried yet?) or find another lender. I agree that there shouldn't be a problem.

[The Mean Lady 604]

I'm still confused. Idk what LPR means. I went by the fact that she said her husband was living in the US and has a green card and just moved here this summer. That would mean he's only been working in the US for a few months and wouldn't have tax returns yet.

My husband was filed jointly on my returns last year, but I was never aware I was FORCED to file jointly with him or anything. I sure didn't in 2010 and we were married then. If he doesn't hold a green card in the us and isn't working there at the time (IE last year in 2011) why should he have filed taxes?